INDUSTRIAL PLASTIC MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Industrial Plastic Market, By Product Type (Polyphenylene Ether, Acrylonitrile Butadiene Styrene (ABS), Polybutylene Terephthalate (PBT), PEEK, Polyamide, Polysulfone (PSU), and Others), By Application (Packaging, Building & Construction, Electrical & Electronics, Automotive & Transportation, Healthcare, Aerospace, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Jul 2024
Code : CMI7102
Pages :134
Formats :
Excel and PDF
Industry : Advanced Materials

Market Concentration and Competitive Landscape

Industrial Plastic Market Concentration By Players

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Growth in Automotive Production

The automotive industry is undergoing a phase of rapid transformation on the back of trends like electrification, autonomous driving, and shared mobility. Despite disruption, the overall automotive production is forecast to increase substantially driven by rising demand for personal vehicles in developing markets. At the same time, there is a constant effort to make vehicles more fuel efficient and reduce their environmental impact. This is accelerating the shift towards lighter weight construction with more use of plastics. Almost every core component and exterior/interior part in modern vehicles has some form of plastic integrated. They help reduce vehicle weight and enhance performance while being cost-effective. Majority of engine parts are now made of high-performance plastics that can withstand high temperatures. Even for electric vehicles, plastics play a vital role as electrically insulating material. With automakers aggressively ramping up capacities across regions, the production volumes are projected to drive significant increase in plastic consumption per vehicle in coming years. This will contribute significantly towards the growth of the global industrial plastics market.

Key Players Insights